Toncoin surges 15% as Pavel Durov leaves France

Toncoin (CRYPTO:TON) experienced a significant price increase of nearly 15% following the news that French authorities allowed Telegram founder Pavel Durov to leave the country.

This development comes after Durov's passport was returned, enabling him to travel to Dubai.

Durov's case has been a focal point of global discussions on digital privacy and free speech, with critics arguing that the charges against him are an attempt to exert control over encrypted messaging platforms.

French authorities accused Telegram of failing to adequately prevent illicit activities on its platform, which could have resulted in a ten-year prison sentence if convicted.

The TON Foundation has reaffirmed its commitment to secure communication, emphasising the role of blockchain technology in protecting personal rights.

"We firmly believe that blockchain is #freedom technology — an innovative tool capable of transforming how we protect personal rights," the foundation stated.

Despite the recent price surge, concerns about Toncoin's long-term viability persist due to declining blockchain activity.

Some industry observers have even described the network as "dead."

However, Junai Dar, founder of Bitward Invest, suggests that Durov's return to a more active role could potentially revitalise Toncoin's prospects.

The price of Toncoin currently stands at $3.58, reflecting a recent increase but still 10% lower than its value a month ago.

The token's future trajectory remains uncertain, with declining interest in Telegram mini-games and TON projects impacting its price.

Toncoin's price surge is also attributed to broader market factors, including large-scale whale activity and favorable macroeconomic conditions.

Whale movements and changes in U.S. inflation and interest rates have encouraged investors to seek digital assets as inflation-resistant alternatives.

However, there are risks that the Toncoin price surge may be short-lived due to its weak on-chain metrics.

Data shows that TON inflation has risen, and the number of transactions per day has significantly decreased.

Historically, traders often overreact to major news and sell after a while, which could lead to a price drop following the initial rally.

At the time of reporting, the Toncoin (TON) price was $3.50.